Govt Commits to Maintaining 4-6% Inflation Rate

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Nationwide News understands the Government has committed to maintaining the inflation rate to between 4 and 6 percent as part of the wage increase agreement it has inked with six trade unions.

The administration says it will use appropriate strategies to minimize the impact of inflation on prices and possible shocks to the economy.

This guarantee is part of the wage deal of 16-percent increase over 4 years which has been offered to the unions.

According to the agreement, should the inflation rate increase more than 2-percent over the target, the wage deal will be subject to review.

Our news center disclosed this week – that at least six trade unions have signed the Government’s wage increase offer of 16-percent over 4 years.

It’s understood that the Jamaica Civil Service Association, JCSA, inked the agreement yesterday afternoon.

The influential Confederation of Trade Unions, which includes the Bustamante Industrial Trade Union, BITU and the National Workers Union, NWU, have also signed the agreement.

As well as the Jamaica Workers Union, JWU, and the Jamaica Association of Local Government Officers, JALGO.

It’s understood that the Jamaica Teacher’s Association, JTA, has asked for a payment schedule before getting back to the Government about the proposed agreement.

Yesterday, Finance Minister Audley Shaw told our news center that the administration is on the verge of achieving the crucial step of inking a wage deal with all the major unions.

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Abka Fitz-Henley is a multiple award-winning journalist who is currently the Senior Reporter at Nationwide News Network (NNN). His primary areas of focus are Court, Crime and Parliamentary proceedings. Fitz-Henley was recently recognized in the regional celebrity magazine publication Panache as “The Breaking News Boss”. At 21 years of age, following his 1st year in media, Fitz-Henley was recognized with the Young Journalist of the year award from The Press Association of Jamaica and went on to cop one of the country’s highest recognized journalism prizes, the Journalist of the Year Award. He’s also been awarded the prestigious Corporate Jamaica Broilers Fairplay 1st place Award for investigative journalism and is the recipient of the Caribbean Blog Award for coverage of the infamous Kartel murder trial. Fitz-Henley is also the recipient of the PM Youth Award for Excellence. Over the years, he has appeared as a guest on the BBC World Service and BBC London.